STOCKS NEWS EUROPE-Publicis falls after downbeat Exane note
Shares in advertising agency Publicis fall 2.9 percent, reversing a portion of recent lofty gains, as traders cite a downbeat research note on the company from Exane analysts.
"Third-quarter organic growth might not be as strong as expected ... A dull third quarter on the back of the 10-year high share price could disappoint in the near term but should provide a good entry point for an attractive long-term story," the analysts write.
However, the analysts maintain their 'outperform' recommendation on the stock, saying that history suggests that the market reaction to even a negligible miss on organic growth is often excessive.
Reuters Messaging: blaise.robinson.thomsonreuters.com@reuters.net
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Shares in advertising agency Publicis fall 2.9 percent, reversing a portion of recent lofty gains, as traders cite a downbeat research note on the company from Exane analysts. "Third-quarter organic growth might not be as strong as expected...